Skip to comments.Dianne Feinstein tells regulators to investigate high California gas prices, again
Posted on 10/08/2012 5:16:48 PM PDT by SeekAndFind
Six weeks after calling for an investigation into high California gas prices, Sen. Dianne Feinstein once again told the Federal Trade Commission that Golden State drivers are being gouged.
Dianne Feinstein letter to FTC">In a letter to FTC boss Jon Leibowitz, Feinstein wrote of "malicious trading schemes in the California gasoline market."
Feinstein sent an earlier letter to Leibowitz complaining of price spikes "unjustified by supply and demand" on Aug. 28.
Citing a possible "illegal short squeeze," Feinstein called for not only an FTC investigation, but also better monitoring of the gasoline and oil markets and also the creation of a "permanent gasoline and oil market oversight unit."
Although Feinstein said that "market fundamentals" can't explain high California gas prices, the situation isn't that clear cut, said Severin Borenstein, head of the Energy Research Institute at the University of California Berkeley.
In a blog post, Borenstein wrote that although it's possible that gasoline refiners are using problems at several refineries as a reason to raise prices, it is "difficult to diagnose such behavior in the extremely complex refinery business."
In fact, Borenstein wrote, proving this type of gouging in the oil business "is pretty much hopeless" given existing market data. "Furthermore, even if we could tell when a gasoline refiner was doing it, as long as they acted alone -- not colluding with rivals -- it would not be illegal."
Sacramento gas prices were $4.546 on Monday morning; the average price across the state is $4.668, according to the AAA Fuel Gauge Report.
Prices climbed by almost 46 cents in Sacramento in a week, most of it almost overnight.
Over the weekend, Gov. Jerry Brown asked the California Air Resources Board to allow oil companies to start selling their cheaper winter blend of gas to help push the price down, according to the Los Angeles Times.
Like Feinstein, Boxer urges federal inqury into high gas prices
Just like clockwork. Dianne investigates high gas prices and each and every time nothing comes of it. Just posturing on her part.
Because statists like Feinstien love high gas prices - more dough for them.
She’s so stupid. Reduce taxes, drill more wells, make more refineries is basic stuff they must surgically extract from ‘Rat brains.
Feinstein knows that the “winter blend” comes out in a day or two, lowering the price 50 cents DUE TO MARKET FORCES ONLY. What a shameless fraud she is.
Feinstein is an idiot. Diane get a clue?
They are both arrogant ignoramuses - they are clueless on the regulatory knots they and their fellow demonrats in sacto have tied the industry up. They probably assume milk comes from stores as well. Kalifornia has unique state-mandated fuel mixtures other states don’t have - so has to rely only on those few refineries still operating in the state.
Better yet, investigate the EPA.
Pray for America
So, what was their answer?
How about let us import gas from Nevada or New Mexico where its under $4? Nah, that would never happen...
Yes Senators, we are being gouged, by your insane environmental regulations and confiscatory tax rates.
It seems I've hear these words all my life, and I just turned 45.
Just how damn long has this woman been mooching off the CA taxpayer, anyway???
Over the weekend, Gov. Jerry Brown asked the California Air Resources Board to allow oil companies to start selling their cheaper winter blend of gas to help push the price down, according to the Los Angeles Times.If CARB didn't have its own special requirements for all gasoline sold in California, it could be transported from bordering states to alleviate shortages. But, no, CARB won't allow that dirty "foreign" gasoline to sully California's pristine skies.
Dear senator Finestine and Senator Boxer,
That’s it, spend more money we don’t have to tell us that we allow every city, town, and podunk crossroad to require their own formula for gasoline, holding up max. production from the few refineries that are working at max levels keep regulation and barriers in place to prevent any new refineries or expansion of existing refineries so that when a problem occurs at one of the refineries it causes a shortage which causes the price to jump and the problem has now been found and the price has begun to fall.
To prevent this in the futre reduce the formulas for regular gasoline to two. Cut the bull crap regs. that stand in the way of new refineries and refinery expansion.
We don’t need no stinkin investigation, we already know what the problem is and how to fix it. A great way to start fixing it would be to get the two of you out of our government.
They create laws where California can only use gas refined in California. California refinery goes offline due to shoddy infrastructure.
Who do I send the bill to ?
Now they want an “investigation” into the mess they created?
Dems say they are for the poor and middle class. Yet high gas hurts them the most.
She knows the winter blend is coming but wants to get credit for it. Also keep the blame on “big oil.”
Brilliant. No wonder she's on the Senate "Intelligence" Committee...